Assenagon Asset Management S.A. Trims Stock Position in Balchem Co. (NASDAQ:BCPC)

Assenagon Asset Management S.A. lessened its holdings in shares of Balchem Co. (NASDAQ:BCPC - Free Report) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,011 shares of the basic materials company's stock after selling 17,573 shares during the quarter. Assenagon Asset Management S.A. owned about 0.32% of Balchem worth $18,130,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BCPC. Vanguard Group Inc. increased its stake in Balchem by 3.8% in the first quarter. Vanguard Group Inc. now owns 3,935,935 shares of the basic materials company's stock valued at $609,873,000 after acquiring an additional 144,423 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Balchem by 32.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,146 shares of the basic materials company's stock valued at $29,929,000 after purchasing an additional 47,036 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Balchem by 2.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,155,209 shares of the basic materials company's stock valued at $177,844,000 after buying an additional 29,825 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new stake in Balchem in the 3rd quarter worth approximately $3,639,000. Finally, William Blair Investment Management LLC boosted its stake in Balchem by 8.4% in the second quarter. William Blair Investment Management LLC now owns 233,831 shares of the basic materials company's stock worth $35,998,000 after buying an additional 18,104 shares in the last quarter. Hedge funds and other institutional investors own 87.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright lifted their price target on shares of Balchem from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Balchem from a "buy" rating to a "hold" rating in a research report on Monday, July 29th.

Balchem Trading Up 3.2 %

Shares of NASDAQ BCPC traded up $5.30 during midday trading on Friday, reaching $171.46. The company had a trading volume of 178,090 shares, compared to its average volume of 106,203. The stock has a market cap of $5.56 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 5.43 and a beta of 0.65. Balchem Co. has a one year low of $110.74 and a one year high of $186.03. The firm's fifty day moving average price is $171.68 and its 200-day moving average price is $162.40. The company has a quick ratio of 1.79, a current ratio of 2.83 and a debt-to-equity ratio of 0.26.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The basic materials company reported $1.03 earnings per share for the quarter, meeting the consensus estimate of $1.03. The firm had revenue of $239.94 million during the quarter, compared to the consensus estimate of $243.05 million. Balchem had a return on equity of 10.94% and a net margin of 12.52%. On average, equities research analysts anticipate that Balchem Co. will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other Balchem news, SVP Gunsteren Job Leonard Van sold 7,750 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $180.05, for a total transaction of $1,395,387.50. Following the completion of the sale, the senior vice president now owns 8,540 shares of the company's stock, valued at $1,537,627. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.25% of the stock is owned by insiders.

Balchem Company Profile

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.